Balyasny Asset Management LLC Acquires 276,568 Shares of Textron Inc. (TXT)
Balyasny Asset Management LLC increased its holdings in shares of Textron Inc. (NYSE:TXT) by 1,024.9% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 303,553 shares of the aerospace company’s stock after purchasing an additional 276,568 shares during the period. Balyasny Asset Management LLC owned approximately 0.11% of Textron worth $14,297,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors have also modified their holdings of the stock. Brandywine Global Investment Management LLC boosted its stake in shares of Textron by 0.4% during the 2nd quarter. Brandywine Global Investment Management LLC now owns 243,270 shares of the aerospace company’s stock worth $11,459,000 after acquiring an additional 891 shares in the last quarter. Veritable L.P. grew its stake in Textron by 0.3% in the 2nd quarter. Veritable L.P. now owns 12,868 shares of the aerospace company’s stock valued at $606,000 after acquiring an additional 44 shares during the period. Dimensional Fund Advisors LP grew its stake in Textron by 2.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,572,386 shares of the aerospace company’s stock valued at $168,259,000 after acquiring an additional 69,287 shares during the period. Virtu KCG Holdings LLC grew its stake in Textron by 350.1% in the 2nd quarter. Virtu KCG Holdings LLC now owns 33,615 shares of the aerospace company’s stock valued at $1,583,000 after acquiring an additional 26,146 shares during the period. Finally, Renaissance Technologies LLC increased its holdings in Textron by 30.1% in the 2nd quarter. Renaissance Technologies LLC now owns 919,900 shares of the aerospace company’s stock worth $43,327,000 after acquiring an additional 212,700 shares in the last quarter. 81.49% of the stock is owned by hedge funds and other institutional investors.
Textron Inc. (NYSE:TXT) opened at 54.50 on Wednesday. The firm has a market capitalization of $14.43 billion, a P/E ratio of 16.66 and a beta of 1.59. Textron Inc. has a one year low of $37.19 and a one year high of $54.69. The company has a 50-day moving average price of $50.67 and a 200-day moving average price of $48.35.
Textron (NYSE:TXT) last issued its quarterly earnings data on Wednesday, July 19th. The aerospace company reported $0.60 earnings per share for the quarter, beating analysts’ consensus estimates of $0.55 by $0.05. Textron had a return on equity of 11.97% and a net margin of 6.45%. The firm had revenue of $3.60 billion during the quarter, compared to analyst estimates of $3.57 billion. During the same quarter last year, the firm earned $0.66 EPS. Textron’s quarterly revenue was up 2.6% on a year-over-year basis. On average, equities research analysts anticipate that Textron Inc. will post $2.53 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Sunday, October 1st. Stockholders of record on Friday, September 15th were paid a dividend of $0.02 per share. This represents a $0.08 annualized dividend and a dividend yield of 0.15%. The ex-dividend date was Thursday, September 14th. Textron’s dividend payout ratio (DPR) is currently 2.45%.
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TXT has been the subject of a number of research analyst reports. ValuEngine raised Textron from a “hold” rating to a “buy” rating in a report on Friday, September 8th. BidaskClub cut Textron from a “sell” rating to a “strong sell” rating in a report on Saturday, August 5th. Drexel Hamilton raised Textron from a “hold” rating to a “buy” rating and set a $58.00 price objective on the stock in a research note on Monday, September 11th. Zacks Investment Research raised Textron from a “hold” rating to a “buy” rating and set a $59.00 price objective on the stock in a research note on Thursday, September 21st. Finally, Jefferies Group LLC restated a “buy” rating and issued a $60.00 target price on shares of Textron in a report on Tuesday, September 26th. Three investment analysts have rated the stock with a sell rating, three have issued a hold rating and eight have assigned a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $53.75.
Textron Company Profile
Textron Inc is a multi-industry company engaged in aircraft, defense, industrial and finance businesses to provide customers with products and services across the world. The Company operates through five segments: Textron Aviation, Bell, Textron Systems, Industrial and Finance. The Textron Aviation segment is engaged in general aviation.
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